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Karolina [17]
2 years ago
13

An auditor wants to verify that for a given inventory acquisition, (1) the merchandise was ordered by the company, (2) the merch

andise was delivered to the company, and (3) a bill for the merchandise was received. the auditor should look at which documents
Business
1 answer:
choli [55]2 years ago
5 0

The answer is: 1. the merchandise was ordered by the company

The auditor could easily obtain this information by looking at the company's purchase order. Purchase order would contain information regarding sellers, types of products, dates, prices, and quantities of the products ordered. This information is what the auditor need to fully verify the inventory acquisition.

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Credits to Accounts Receivable represent a reduction in the Accounts receivable amount.

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Paloma Company establishes a $200 petty cash fund on Jan 1. On January 8, the fund shows $107 in cash along with receipts for th
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Answer:

(1) establish the fund on January 1,

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(2) reimburse it on January 8

  • Dr Postage expenses 39
  • Dr Transportation expenses 12
  • Dr Delivery expenses 14
  • Dr Miscellaneous expenses 28
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(3) both reimburse the fund and increase it to $350 on January 8, assuming no entry in part 2.

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The only difference between part 2 and 3 is that the Petty cash fund is increased by $150, and cash decreases by $243 instead of $93.

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Answer:

I. 14.50%

II. 3.55

III. 51.48%

Explanation:

Kindly observe your question is incomplete but i found the other section of the question

Kindly check attached picture for detailed explanation

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